Aigen Investment Management LP Purchases Shares of 25,890 First BanCorp. (NYSE:FBP)

Aigen Investment Management LP acquired a new stake in shares of First BanCorp. (NYSE:FBP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,890 shares of the bank's stock, valued at approximately $481,000.

A number of other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. purchased a new stake in shares of First BanCorp. during the 3rd quarter worth about $205,000. Natixis Advisors LLC increased its holdings in First BanCorp. by 4.3% in the third quarter. Natixis Advisors LLC now owns 50,528 shares of the bank's stock worth $1,070,000 after buying an additional 2,068 shares during the last quarter. Gladius Capital Management LP bought a new position in First BanCorp. during the third quarter valued at approximately $25,000. Pathstone Holdings LLC lifted its stake in First BanCorp. by 0.9% in the third quarter. Pathstone Holdings LLC now owns 160,254 shares of the bank's stock valued at $3,393,000 after acquiring an additional 1,435 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in First BanCorp. by 135.7% in the third quarter. Intech Investment Management LLC now owns 192,012 shares of the bank's stock worth $4,065,000 after acquiring an additional 110,531 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FBP. Wells Fargo & Company cut their price target on shares of First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, First BanCorp. has a consensus rating of "Moderate Buy" and an average target price of $22.40.

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First BanCorp. Stock Performance

Shares of NYSE:FBP traded up $0.02 during trading on Friday, reaching $18.54. The stock had a trading volume of 924,449 shares, compared to its average volume of 942,880. The stock has a fifty day simple moving average of $19.67 and a two-hundred day simple moving average of $20.15. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. First BanCorp. has a 52 week low of $16.24 and a 52 week high of $22.40. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 1.34 and a beta of 1.12.

First BanCorp. (NYSE:FBP - Get Free Report) last released its earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. During the same quarter last year, the business posted $0.46 earnings per share. As a group, analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a dividend of $0.18 per share. This is an increase from First BanCorp.'s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 21st. This represents a $0.72 annualized dividend and a yield of 3.88%. First BanCorp.'s dividend payout ratio is presently 39.78%.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.75, for a total value of $214,160.75. Following the completion of the sale, the executive vice president now directly owns 176,222 shares of the company's stock, valued at $3,656,606.50. This represents a 5.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.50% of the company's stock.

About First BanCorp.

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.